Latest news with #BaderAlLamki
The National
07-08-2025
- Business
- The National
Adnoc Distribution's first-half profit up 12% on higher fuel volumes
Adnoc Distribution, the UAE's largest fuel and convenience retailer, posted a 12 per cent annual jump in its first-half profit, underpinned by a surge in retail fuel volumes sold. Net profit in the six months ended June climbed to $358 million, the Abu Dhabi National Oil Company unit said on Thursday in a filing to the Abu Dhabi Securities Exchange, where its shares trade. The company said it recorded its largest-ever first-half fuel volumes of 7.62 billion litres, marking a 5.6 per cent year-on-year increase. It also recorded the highest earnings before interest, taxes, depreciation and amortisation (Ebitda) – a key measure of profitability, of $566 million, up 10 per cent year-on-year. Meanwhile, revenue for the six-month period was down 2.4 per cent to $4.65 billion. 'Our strong H1 2025 results demonstrate the successful execution of our 2024-28 growth strategy, driven by operational excellence and customer-focused innovation," said Bader Al Lamki, chief executive of Adnoc Distribution. The company's net profit for the second quarter of 2025 was up nearly 9 per cent annually to $184 million, while revenue was down 1.6 per cent to $2.35 billion. Non-fuel retail transactions also increased with gross profit growing by 14.9 per cent year-on-year in the first half of 2025, driven by strong performance of convenience stores, car services, property management and lubricants businesses, the company said. Adnoc Distribution expects to distribute dividend of $350 million (10.285 fils per share) for the first half of 2025, in October this year, in line with its dividend policy, it said. Oil prices have trended upwards since May, peaking on June 19 after Israel attacked Iran, but they have fallen since. That, among other geopolitical tensions, has added to market volatility. On Monday, oil prices dropped after Opec+ agreed to another large output rise in September. Brent, the benchmark for two thirds of the world's oil, was up 0.55 per cent to $67.26 a barrel at 9.55am UAE time on Thursday. West Texas Intermediate, the gauge that tracks US crude, was trading 0.59 per cent higher at $64.73 a barrel. Brent and WTI are now down about 10 per cent in 2025. On a year-on-year basis, the benchmarks have retreated more than 15 per cent. Adnoc Distribution said on Thursday it plans to add 60-70 new fuel stations by the end of 2025, ahead of schedule, with majority of those located in Saudi Arabia, the world's biggest oil-exporting country. It added 47 new service stations in the first half of 2025, bringing its total network to nearly 940 – 556 in the UAE, 70 in Saudi Arabia (with 70 stations contracted and under development), and 243 in Egypt, Adnoc said. The growth is complemented by company's 379 Oasis convenience stores across the UAE, Saudi Arabia and Egypt, along with 37 vehicle inspection centres. Other services span car wash, lube change, with the company boasting more than 300 EV charging points installed under the E2GO brand in the UAE. "By leveraging advanced technologies, unlocking new operational efficiencies, and bringing our commitment to quality to more communities than ever before, we are well-positioned to deliver sustainable, long-term growth and superior returns for our shareholders,' said Mr Al Lamki. Adnoc Distribution has pledged to expand further, supported by continued growth in the UAE's economy, in addition to incorporating the latest technologies to boost its operational and cost efficiencies. A growing economy typically leads to increased demand for transportation services, resulting in the establishment of more fuel stations to meet growing consumption. The Emirates' economy grew by 4 per cent last year, driven by a strong expansion in its non-oil sector. Abu Dhabi's economy, in particular, expanded by 3.8 per cent annually in 2024 to reach an all-time high value of Dh1.2 trillion, state news agency Wam had reported in May.
Gulf Today
22-05-2025
- Business
- Gulf Today
Adnoc Distribution showcases the innovation of UAE products
Adnoc Distribution, the UAE's largest mobility and convenience retailer, joined the Ministry of Industry and Advanced Technology's (MoIAT) 'Muntajat Watan'na' initiative at this week's 'Make it in the Emirates' exhibition (MIITE), held at the Adnec Centre in Abu Dhabi. Through this programme, Adnoc Distribution is showcasing the quality and innovation of UAE products, with select locally-made items featured prominently in Adnoc Oasis stores across the country until the end of the year. Adnoc Distribution also announced its collaboration with the UAE Federal Youth Authority (FYA) to highlight Emirati-owned SMEs through its Youth Corner initiative, featuring brands such as Emirates Beekeepers, Banna Brothers, LIWA Hot Sauce and NUWA. Products from these home-grown brands will be available for sale as part of a three-month pilot at select UAE locations. Eng. Bader Saeed Al Lamki, CEO of Adnoc Distribution, said, 'By championing local brands and products, and forging strong partnerships with home-grown suppliers, Adnoc Distribution is helping to build resilient supply chains, empower Emirati entrepreneurs and support the UAE's vision for a more self-reliant, sustainable economy.' Adnoc Distribution operated a pop-up Adnoc Oasis convenience store this week at MIITE, which, for the first time, featured 100 per cent UAE-made products for sale. The unique store showcased locally-roasted coffee, food, and speciality beverages, underscoring the company's commitment to supporting the growth of the UAE's food industry. The pop-up store reflects Adnoc Distribution's broader strategy to prioritise UAE-made products across its convenience retail network. Adnoc Distribution also announced a new agreement with Al Ain Farms Group to supply dairy ingredients for Adnoc Oasis coffee, beverages and quick-service food. These initiatives underscore Adnoc Distribution's continued commitment to elevating the UAE's industrial capabilities, empowering local talent, and promoting homegrown businesses. The company remains focused on strengthening the UAE's position as a global hub for innovation and manufacturing excellence, both through Adnoc Oasis and through its other product lines, such as the Adnoc Voyager lubricant line, which is proudly made in the UAE and exported to 47 markets worldwide. Adnoc Distribution also fosters partnerships with both established and emerging UAE brands, including its recently announced strategic partnership with noon, the UAE's leading homegrown digital delivery service. Meanwhile Adnoc Distribution has reiterated its commitment to sustainable industrial development and boosting local content through its participation in the 'Make it in the Emirates' 2025, a leading national platform for driving innovation and empowering Emirati talent. Speaking to the Emirates News Agency, Eng. Bader Al Lamki, CEO of Adnoc Distribution, stated that the company's participation in the forum reflects its strategy to support national products and empower young Emirati entrepreneurs. He noted that Adnoc Distribution is committed to strengthening local supply chains through quality-driven initiatives, including the manufacturing of 'Adnoc Voyager' lubricants in the UAE. He added that additional production lines have been established in Egypt, with exports reaching 47 global markets. Adnoc Voyager is the UAE's leading lubricant brand, and is exported to 47 countries worldwide. Adnoc Distribution recently introduced Voyager Platinum Plus Eco, the UAE's first lubricant product that conforms to API SQ / ILSAC GF-7, the next generation of engine oil standards. Voyager Platinum Plus Eco is one of the first lubricants in the world to adhere to this standard, introduced at the end of March. He stated that by the end of this month, Adnoc Distribution plans to make 'Adnoc Voyager' lubricants officially available through independent distributors in Egypt, further expanding the brand's presence beyond Adnoc Distribution service stations. Adnoc Distribution CEO also noted that partnerships with startups and local brands reflect Adnoc Distribution's keenness to invest in and empower Emirati talent. Adnoc Distribution is taking part in the 'Make it in the Emirates', reinforcing its commitment to the UAE's industrial strategy, youth empowerment, and local economic development. Through a series of strategic initiatives, Adnoc Distribution is showcasing its leadership in supporting UAE-made products, youth entrepreneurship, and sustainable local supply chains. Make it in the Emirates supports the National Strategy for Industry and Advanced Technology by localising supply chains, enabling industrial growth through partnerships and investments, and promoting AI-driven innovation, financing, and startup empowerment. Adnoc also announced that it has signed framework agreements valued at Dhs6 billion ($1.64 billion) with 12 UAE-based companies for manufacturing of critical industrial equipment in the UAE, supporting the 'Make it in the Emirates' initiative.
Zawya
21-05-2025
- Automotive
- Zawya
ADNOC Distribution expands ADNOC Voyager exports to 47 global markets
ABU DHABI - ADNOC Distribution has reiterated its commitment to sustainable industrial development and boosting local content through its participation in the 'Make it in the Emirates' 2025, a leading national platform for driving innovation and empowering Emirati talent. Speaking to the Emirates News Agency (WAM), Eng. Bader Al Lamki, CEO of ADNOC Distribution, stated that the company's participation in the forum reflects its strategy to support national products and empower young Emirati entrepreneurs. He noted that ADNOC Distribution is committed to strengthening local supply chains through quality-driven initiatives, including the manufacturing of 'ADNOC Voyager' lubricants in the UAE. He added that additional production lines have been established in Egypt, with exports reaching 47 global markets. ADNOC Voyager is the UAE's leading lubricant brand, and is exported to 47 countries worldwide. ADNOC Distribution recently introduced Voyager Platinum Plus Eco, the UAE's first lubricant product that conforms to API SQ / ILSAC GF-7, the next generation of engine oil standards. Voyager Platinum Plus Eco is one of the first lubricants in the world to adhere to this standard, introduced at the end of March. He stated that by the end of this month, ADNOC Distribution plans to make 'ADNOC Voyager' lubricants officially available through independent distributors in Egypt, further expanding the brand's presence beyond ADNOC Distribution service stations. ADNOC Distribution CEO also noted that partnerships with startups and local brands reflect ADNOC Distribution's keenness to invest in and empower Emirati talent. ADNOC Distribution is taking part in the 'Make it in the Emirates', reinforcing its commitment to the UAE's industrial strategy, youth empowerment, and local economic development. Through a series of strategic initiatives, ADNOC Distribution is showcasing its leadership in supporting UAE-made products, youth entrepreneurship, and sustainable local supply chains. Make it in the Emirates supports the National Strategy for Industry and Advanced Technology by localising supply chains, enabling industrial growth through partnerships and investments, and promoting AI-driven innovation, financing, and startup empowerment.
The National
06-05-2025
- Business
- The National
Adnoc Distribution's network growth and Saudi expansion fuel 16% first-quarter profit jump
Adnoc Distribution, the UAE's largest fuel and convenience retailer, posted a more than 16 per cent annual rise in its first-quarter profit, boosted by its growth in Saudi Arabia. Net profit attributable to equity holders in the three months ended March 31 hit Dh638.7 million ($174 million), driven by "strong underlying business profitability and lower finance costs", the company said on Tuesday in a regulatory filing to the Abu Dhabi Securities Exchange, where its shares trade. Revenue for the quarter edged down 3.2 per cent annually to Dh8.47 billion, partially offset by reduced fuel prices as a result of lower global oil prices in the quarter on an annual basis, but lifted by a growth in fuel volumes and higher non-fuel retail segment contribution, the company said. Earnings before interest, taxes, depreciation and amortisation – a measure of profitability – rose 11 per cent compared with last year to reach Dh1.01 billion, a record for the first quarter and the highest since Adnoc Distribution's initial public offering in 2017. Adnoc Distribution said it achieved its "highest-ever first-quarter" fuel volume of 3.7 billion litres, "driven by market share growth, increasing demand and network expansion in the UAE, Saudi Arabia and Egypt". The company opened 20 new service stations in the first quarter, bringing its network to 915 and keeping it on track to meet the target of between 40 and 50 new stations by the end of 2025, it said. In Saudi Arabia, the world's biggest oil-exporting country, Adnoc Distribution added 15 stations, growing its network to 115. Non-fuel retail transactions also increased with gross profit rising 14 per cent annually in the period from January to March to reach Dh228 million. "As we continue to expand our network and capabilities, adding new service stations and enhancing our customer experiences, we remain focused on capturing new opportunities and setting new benchmarks," said Bader Al Lamki, chief executive of Adnoc Distribution. The company has been incorporating more technology into operations as part of efforts to improve its offering. Mr Al Lamki told The National at last year's Gitex Global technology summit that the company was developing more than 20 tools powered by artificial intelligence to further optimise operations and enhance operational efficiencies. Adnoc Distribution has also demonstrated its concept robotic arm for electric vehicle charging. But there are no plans to use the technology in the near future and the concept is aimed at future-proofing the company, Mr Al Lamki said at the time.
Trade Arabia
26-03-2025
- Business
- Trade Arabia
Adnoc Distribution approves H2 2024 dividend of $700m
Adnoc Distribution, the UAE's leading fuel and convenience retailer, has announced shareholder approval of all agenda items at its Annual General Assembly Meeting (AGM), including the shareholder approval of a final cash dividend of $350 million (AED1.285 billion) for the second half of 2024 to be distributed in April 2025. This brings the total annual dividend for 2024 to $700 million (AED2.57 billion), yielding 6.1%, based on the March 25, 2025 closing share price of AED 3.39, in line with the Company's 2024-28 dividend policy of maintaining annual payouts of $700 million or a minimum of 75% of net profit, whichever is higher. Dr Sultan Al Jaber, Chairman of Adnoc Distribution, said: 'Financially, 2024 was another record-breaking year. We delivered against our five-year strategy, achieving significant milestones that strengthened our market position and set the stage for long-term success. For the second consecutive year, our EBITDA surpassed $1 billion, driven by record fuel volumes—which increased by nearly 9%—and sustained non-fuel retail growth, which have allowed us to deliver strong shareholder returns.' In 2024, Adnoc Distribution unveiled a five-year growth strategy underpinned by commitments to domestic growth, building international platforms, and future-proofing its business. By successfully executing this strategy, the Company achieved a record EBITDA of $1.05 billion (AED3.86 billion) in 2024, a 5% year-on-year increase driven by record fuel volumes, strong non-fuel retail growth, and higher contributions from its operations in Saudi Arabia and Egypt. The 2024 dividend reflects the Company's ability to generate strong free cash flow, which totaled $756 million (AED2.78 billion) in 2024. Since its IPO in 2017, the Company has distributed a total of $4.8 billion (AED17.4 billion) in dividends and delivered 92% in total shareholder returns. This year's dividend distribution of $700 million marks a 3.5x increase from the $200 million distributed in Adnoc Distribution's first year as a listed company. Bader Al Lamki, CEO of Adnoc Distribution, said: 'Adnoc Distribution is committed to leading the way for the future of mobility and convenience retail, as evidenced by our commitment to expanding our international operations and prioritising high-growth areas. Throughout 2025, we will continue to drive towards our five-year strategic objectives, including 1,000 service stations across our network, increasing non-fuel transactions by 50%, and expanding our E2GO network to 500 EV charging points across the UAE by 2028. Diversification and innovation are key drivers of our growth.' In 2025, Adnoc Distribution is targeting installation of approximately 100 additional fast and super-fast EV charging points across the UAE as part of its commitment to future-proofing and building the future of mobility. In the Year of Community, Adnoc Distribution is also exploring new ways to position its service stations as more than just functional stops, redefining them as welcoming spaces at the heart of the communities they serve. The Company aims double the number of properties occupied by top international and regional food and beverage brands by the end of the year, compared to the end of 2023. By 2028, Adnoc Distribution seeks to grow the number of Adnoc Oasis convenience stores by 25%, increase non-fuel transactions by 50% and scale directly-operated franchise stores to 50 or more locations - a strategy is expected to allow for a 2.5-fold increase in property yield compared to traditional rental agreements. The Company is targeting 1,000 service stations across its network by 2028, and aims to add 40-50 in 2025, with 30-40 of these to be located in Saudi Arabia. In 2024, Adnoc Distribution reached a milestone of 100 service stations in the Kingdom by deploying a smart Dealer-Owned, Company-Operated (DOCO) model. This CAPEX-light, scalable approach involves partnering with local dealers who own service stations, while Adnoc Distribution manages operations. By 2029, Adnoc Distribution targets at least 300 stations across the Kingdom, positioning the Company among the top five fuel and convenience retailers in the Saudi market.
